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Here is a summary of the latest #COVID19AB numbers: There are now 1,027 people in hospital due to COVID-19. Of the 791 non-ICU, 73.4% are unvaccinated or partially vaccinated. Of the 236 in ICU, 91% are unvaccinated or partially vaccinated. (1/5) pic.twitter.com/hySbuJDqRD
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BREAKTHROUGH CASES UPDATE: ➡️5,571,445 fully vaccinated individuals as of September 27th Among the fully vaccinated: ➡️33,963 COVID+ cases (0.61%) ➡️672 COVID-related hospitalizations (0.01%) ➡️182 COVID-related deaths (0.003%) pic.twitter.com/VXKKJQGGNA
"It's a good time to get some ... nouveau bank exposure," Cramer said, because expectations for Wall Street banks are high coming into earnings season. That means their stocks could get hit if results don't smash expectations, he said, like JPMorgan Chase on Wednesday.
"If the rest of them go like JPMorgan ... then it's possible we could have still one more exodus from the straight financials and one more love affair with the fintechs," Cramer said.
Here's how Cramer would play the landscape:
Cramer said PayPal and SoFi are worth buying right here.
PayPal has done a great job expanding its products to include new offerings such as adding a buy now, pay later platform, Cramer said, as well as offering cryptocurrency trading and high-yield savings accounts through a Synchrony Bank partnership.
"While the stock remains expensive here, I think it's worth buying now that it's down 17% from its highs, which is why we added some for the charitable trust last week."
SoFi, led by CEO Anthony Noto, also has a range of services that now includes selling insurance policies, brokerage accounts and mobile cash management, Cramer said. "SoFi is well on its way to obtaining a banking charter, too," he added.
However, SoFi's stock has struggled to gain traction since the company completed a reverse merger to start trading on the Nasdaq in June. Even as SoFi benefited from Morgan Stanley analysts rating its stock a buy, "it's still down nearly $10 from its highs earlier this year," Cramer said.
Cramer said he finds Square "enticing" now that the company — which offers peer-to-peer payments, small business loans and equity and crypto trading — has seen its stock fall about 16% from its August highs.
However, he said, "I like PayPal more than Square because it's cheaper."
Upstart, a loan originator that uses artificial intelligence to facilitate the process, should be on investors' shopping lists, Cramer said. But with the stock up 746% year to date, "wait for a pullback and then you pull the trigger," he said.
Similarly, Cramer said he believes investors should wait for a bit of decline in shares of Affirm , a leader in the increasingly popular buy now, pay later space that's scored high-profile deals with Amazon, Walmart and Target.
Robinhood, a pioneer in zero-commission trading, has big ambitions to become a "single money app" for consumers, Cramer said. Even so, Cramer said it'll take time to get there, plus the top U.S. securities regulator is looking into its core business model of payment for order flow.
"While Robinhood is not my favorite, it's way too important to ignore," Cramer said.
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13 October, 2021 - 04:01am